The Financial Intelligence Centre (FIC) has frozen the financial accounts of Bills Micro-Credit, Quick Credit, and Investment Micro-Credit—companies owned by businessman Richard Nii Armah Quaye.
Additionally, the personal accounts of Quaye and the CEO of Quick Credit, Romeo-Richlove Kweku Seshie, have also been frozen.
A confidential FIC document seen by Joy Business cites Section 56(1) of the Anti-Money Laundering Act, 2020, as the basis for the decision. A letter sent to select financial institutions instructed them to freeze all associated accounts pending further directives.
Meanwhile, the Ghana Revenue Authority (GRA) has initiated an income tax assessment of Quaye’s finances as part of a routine audit to evaluate tax compliance. However, the GRA has denied freezing his accounts.
Sources indicate that discussions are ongoing for Quaye to fulfill any outstanding tax obligations. The GRA has also assessed import duties on his luxury Bugatti Chiron, which he has since paid. Contrary to reports, the GRA maintains that this is a standard tax administration process, not a punitive action.
These developments follow Quaye’s extravagant 40th birthday celebration at Black Star Square in Accra. The star-studded event featured top business elites, government officials, and entertainment heavyweights, including Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong.
Musical performances from Nigeria’s Davido, Ghana’s Sarkodie, and Stonebwoy energized the night, making the celebration a spectacle of wealth and influence.
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